Cybin (OTCMKTS:CYBN) Stock Rises 1.5% – Is Now the Right Time to Buy?

On the trading floor on Friday, Cybin Inc. (OTCMKTS:CYBN) saw its stock price increase by 1.5%. The stock reached a peak trading price of $9.80 and was last recorded at $9.78. During the mid-day trading session, approximately 158,951 shares were exchanged, which marks an 11% rise in trading volume compared to the average of 143,015 shares. The previous closing price for the stock was $9.64.

Stock Performance Overview

Currently, Cybin's stock has a fifty-day moving average price of $3.33 and a two-hundred day moving average price set at $1.37. The company holds a market capitalization of around $4.02 billion, with a price-to-earnings (PE) ratio of -48.90. The stock has a beta of 0.41, indicating lower volatility relative to the market.

Recently, on August 8th, Cybin announced its quarterly earnings report. The company reported earnings of ($0.01) per share (EPS) for that quarter. Analysts' forecasts suggest that Cybin Inc. will post an EPS of -0.19 for the current fiscal year.

About Cybin Inc.

Cybin Inc. is a clinical-stage biopharmaceutical company dedicated to the development of psychedelic-based therapeutics. The company’s pipeline includes several promising projects. One of these is CYB003, a deuterated psilocybin analog that is currently in Phase 1/2a of clinical trials aimed at treating major depressive disorder and alcohol use disorders. Another is CYB004, a deuterated dimethyltryptamine, which is in Phase 1 trials intended for patients with generalized anxiety disorders. Additionally, CYB005, a phenethylamine derivative, is in the preclinical stage with prospects for addressing neuroinflammation.

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Cybin, Stock, Trading